Conversely, the percentage of renters in Whatley has decreased over time. In 2013, 34% of residents were renters, but by 2022, this figure had dropped to 18%. This decline in the renter population coincided with fluctuations in average rent prices. The average rent in 2013 was $759, which increased to $802 in 2018. However, there was a significant drop in average rent to $452 in 2019, followed by a gradual increase to $676 by 2022. These fluctuations in rent prices, particularly the sharp decrease in 2019, may have influenced some renters to transition to homeownership.

Looking at the most recent data, the average home price in Whatley for 2023 was $109,499, showing a slight decrease from the previous year. In 2024, the average home price further declined to $102,994. This downward trend in home prices occurs alongside rising federal interest rates, which reached 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact homebuying decisions in the coming years.

Applying predictive models to forecast 5-year trends, it's anticipated that average home prices in Whatley may continue to experience moderate fluctuations. If the current trend persists, we might see average home prices stabilize or potentially decrease slightly. For rent prices, the forecast suggests a potential gradual increase over the next five years, possibly returning to levels seen in the mid-2010s.

In summary, Whatley has experienced a significant increase in homeownership rates over the past decade, rising from 66% to 82% between 2013 and 2022. This trend occurred during a period of historically low interest rates. Average home prices have shown recent declines, while rent prices have fluctuated considerably. The community's housing market appears to be in a state of transition, with homeownership becoming increasingly prevalent. As interest rates continue to rise, it will be interesting to observe how these trends evolve in the coming years.